Old geezers and gal's close to retirement on dmp's.!!

elsie52

Chasingmytail wrote: »

Hello everyone.

New to this site. Hope I'm filling this in correctly.

Would like to join your merry band, you all seem so friendly.

I have listed our "problem" on the debt-free wannabe site. But here is the shortened version.
DH given up work due to ill health. Lots of debt. Trying to remortgage to pay back over next 9 years (retirement age) but having problems, got turned down on credit check. Can't decide whether to go to another company for remortgage or apply for DMP. The cost for remortgage and DMP would be nearly the same each month.

Hi,

Here is you number, 15. You are very welcome to join us. Have you spoken to any of the companies such as CCCS or Payplan. ? It's a difficult decision to make, but going on a DMP was the only solution for us, we started off owing £74k :eek::eek: and to be honest it was the best decision we have made. We are now 2 years on and it has become a way of life. :T I hope that you come to the right decision for your circumstances, but to us and a lot more a DMP was the only way forward. :cool:

elsie52

Hope you all have had a lovely day.:D I spent the day with my grandchildren, which is always hectic, but I wouldn't have it any other way. One of my children was worried, because they couldn't afford to buy me anything, (as if I care). All I care about is getting a card and some of their company. :T I do wish we wouldn't all feel under pressure to buy big lavish gifts, and get into debt doing it.!! :mad::mad: There are times when I wish we could tell our kids, but we are " The Grown ups " and should have known better, and I want them to think that we are ok financially, because that also gives them confidence that if they really needed help we would be there for them.!!
Why does everything seem to revolve around money.??

dmb_2

Hi, especially to ones who've recently joined. Took me a year before I finally took the bull by the horns and got help for debt. A DMP was the best thing for me and for the first time I feel I'm in control rather than debt controlling me.
Do contact one of charities - they are non-judgemental and more importantly non-shockable.
I have not told anyone so it is great to have this thread for support.

Chasingmytail_2

Hi

Thanks for your welcome. I have completed the budget plan with CCCS and on the figures we would be paying the same to a DMP as we would to a remortgage. All things remaining unchanged our DMP would last for about 6/7 years and our remortgage 9 years. My worries with the remortgage are that our circumstances might change again. Although I am healthy and employed at present I have seen DH's health deteriorate over the last 2 years to the point at which he has had to give up his work. When you're young you think you are invincible but now we realise differently.

DH and I are going to discuss all our options again tomorrow night. Will keep you posted.

elsie52

You are right dmb......they are non-judgemental and totally unshockable. they have heard it all before. :cool: When I rang Payplan, I thought I was the only one in this situation.!! I remember being in floods of tears, partly because the embarrassment of the situation, and partly with relief. Before I rang, I couldn't ever see any way out of this situation, and all I could think about, was that we owed £74K, and only had 7 years left to work. What the hell were we going to do.! :eek::eek::eek: What were people going to think?. Would our employers be told, and what would our work colleagues think? When I found that there was a solution, and that no one needed to know our business, I was so very thankful. :T:T We have to work to pay the debts off, but that's fine by me. I don't want anything for nothing, and at the end of this we will be debt free.!! :T:T So that's my positive thinking for today, its onwards and upwards geezers and gals.!! We can all give each other the support we need when things get tough, or should I say tougher.! We may all be sightly older, but we are capable of sorting this out.:T:T

debt4evernot

Thanks for welcoming us aboard! It's nice to know that we are not the only oldie ones - I was really getting stressed about what we were going to do with so little time left. I dont think we are in a position to advise anyone either as I feel we could maybe have paid this off quicker by paying a little bit extra!!!! But we have set ourselves two years if poss to get it paid off. I think a lot is down to being prepared and planning ahead for meals, etc and only buying what you need (and that does not happen very often to us!)

I know that Martin always says pay your debt off but I stress out because of our lack of savings and I worry that if something goes wrong we cannot pay for it but I also worry how long I can continue working at the pace I am presently working!

Chasingmytail_2

It is so lovely to have people to discuss this with.

Yesterday was one of the worst days of my life. When our application for a remortgage was turned down I just wanted to go to bed and cry. But I managed not to instead I came on here and the CCCS site (I have browsed through both in the last few weeks) and started seriously to consider my options. I can actually see the logic in a DMP over a remortgage but I'm not sure my DH will agree with me.

It is a horrible fear to think that people are going to find out especially friends and work colleagues. After all those discussions about the pitfalls of credit cards, loans and living on credit whilst secretly that is the life we are living. Not having the courage to admit, even to yourself let alone your closest friends that you are in serious trouble. And just going on as you always have getting in deeper and deeper until backed into a corner and having to do something about it.

In a strange way one of my problems was always that I could make the payments so you put to the back of your mind the fact that the debt was getting bigger and the time to pay it off longer.

Well I'll stop rambling now but leave you with one last quote

"I may be in the gutter but I'm looking at the stars"

elsie52

Chasingmytail wrote: »

"I may be in the gutter but I'm looking at the stars"

ooo I like that quote.!.:T

Good morning everyone. :wave:

It's another day, and I'm up for work AGAIN! I can't believe how quickly Monday comes around. In fact this morning I have seriously considered going back to bed and not going into work, but if I do that I will be about £30 down in my wages at the end of April.!!! :eek: So its " Hey oh, Hey Oh, its off to work I go "....:D
Its raining too which doesn't help.!

Right, I must go and check my online banking, have a quick check on my ebay items and see if any have any bids on.

Have a good day everyone, will be back later.:wave:

bunny_too

Hi everyone, just found you. Will pop back later for a chat......if i can find my way back, that is. Talk soon. Love BTx

pure_dead_dopey

Morning All

welcome Noobies, we are a very open minded bunch ere, so nothing shocks us and you'll only get support. This has been a Godsend for us, we thought we were the only ones with these huge debts heading for retirement, worrying about the children, wworrying about health, worrying about what will we do if we can't pay it off before we retire, worrying about keeping doing a really pressurised, high flying job till we're 65!!!!!! I wish I had known about DMPs 10 or 20 years ago, life would have been so different!!! But we have found it, and with any luck we should have it paid off before we're retired, just by a squeak mind you. I just hope that all the younger guys on here realise they have their chance to do something about it and they grab with both hands. and no, our children know (they still live at home) but no one else does, and it is difficult but I have been telling sort of half truths, no we're not going on hols this year cos we're still paying uni fees for DS (which is true), but lots of friends and relatives didn't realise, it takes a bit of pressure off.

Right rant over, off to do training of more pernickey small business men's sidekicks, might strangle someone................